Family Life

03.05.13 | Sarah Harnisch

The New York State Senate unveiled the Family Tax Relief Act yesterday. It restores the STAR property tax rebate program, which gives families 450 dollars back on their property taxes; and puts a new tax break in place: nearly a thousand dollar deduction per child, instead of per family. The tax deduction for each taxpayer's dependent has stood at $1-thousand dollars for the past 25 years. Also included in the bill is a measure to update the amount a taxpayer can deduct for child care expenses. A report suggested the state stands to take $200 million more in revenue than Governor Cuomo had initially forecast in his budget proposal. Senate Majority Leader Dean Skelos said just when families find a way to make ends meet, New York moves the ends. This plan still has to get approved in the Senate and the Assembly.

To read more, go here:  http://www.nysenate.gov/press-release/senate-republicans-unveil-family-tax-relief-act